July 18, 2019
Lincoln Property Company acquired an industrial portfolio in SoCal from Colony Capital, Inc. for $104.6 million. The highly-desirable Inland Empire West portfolio consists of four sites totaling 745,580 square feet.
The assets are located at 11600 Millennium Ct., 8250 Milliken Ave. (pictured), and 9160 Buffalo Ave. in Rancho Cucamonga, as well as 4850 E. Airport Dr. in Ontario. The buildings are 100% leased to five tenants, including XT Green Inc., Carpenter Technology Corp., Pinole Valley Trucking Inc., THMX Holdings LLC and ConAgra Foods, Inc.
CBRE’s Darla Longo, Barbara Perrier, Brett Hartzell, Rebecca Perlmutter, Eric Cox, Len Santoro, David Consani and Jim Koenig represented the seller. The buyer was self-represented.
Perrier says, “We marketed the portfolio as a whole, and we offered the ability to bid on each building individually. Ultimately, we sold it as one, due to the strength of the entire portfolio.”
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